Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
UMA — In Case You Missed It Issue #2 Week Ending Feb 14th 💌
Week ending 14th February.
Ocean backed stablecoinOcean Finance in their mission to “Unlock data, for more equitable outcomes for users of data, using a thoughtful application of both technology and governance” have teamed up with OpenDAO to offer the $Ocean0 stable coin, using UMA’s optimistic oracle.
An incentivised $OceanO/$USDC liquidity pool will allow minters to quickly convert to $USDC for deployment elsewhere. If you’re an OCEAN holder, but want to free up some capital for further investments, the $OceanO stable coin was created with you in mind.
Uniswap LP Tokens as CollateralA community developer has submitted proposals to add UNI-V2-WBTC-ETH as a supported collateral currency. Which means that you can maintain your exposure to both BTC and ETH and collect pool fees while putting your assets to work, opening the door for borrowing assets against Liquidity Provider(LP) tokens on the UMA Protocol.
The UMA team is ExpandingAs the number of products on our protocol grows, our internal capacity is expanding to meet demand. We have added an additional 5 team members this year already and are currently recruiting for a Design Lead and Data Scientist. We also have a“Finding People” area on our Discourse forum where we will be highlighting our own vacancies and also welcoming teams or individuals working with the UMA protocol to highlight their opportunities and talents.
Domination FinanceDomination Finance has just release the first in its new suite of products, that allows you to short bitcoin…without shorting bitcoin (how cool is that!). Using Dai as collateral you can take a long or short position on bitcoin relative to its crypto market dominance compared with alt-coins. Or you can go long if you think that bitcoin dominance will grow.
EthGlobal HackathonThe Ethglobal Hackathon saw a number of teams building on the UMA Protocol. So many amazing projects developed in such a short space of time, with something to inspire everyone: Contracts for Difference (CfDs), 1inch Synths; Workflow Automation, Volatility Indices, Pre-market Assets and you can now even trade in Ideas. Check ’em out.
and finally ….Protocol OptionsUMA caused a stir this week by announcing the distribution of KPI options, synthetic tokens that will pay out more rewards if the Key Performance Indicators are met. Backed by UMA as collateral, these options are designed to reward our community for helping grow the underlying fundamentals of the protocol and worth up to 20 UMA if the total value locked in our protocol exceeds $2bn by the end of June. Watch this space for details of the claims process and a roadmap of how we can collectively hit this target.
Want to see your name in lights on UMA’s ICYMI?
Join us in Discord and start building!
And you might also want to…
See the news in real-time on Twitter.Get nerdy with us on Discourse.
UMA — In Case You Missed It Issue #2 Week Ending Feb 14th was originally published in UMA Project on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.